On February 14, 2004, Dollar Savings Bank, Newark, NJ was closed
by the Office of Thrift Supervision, and the Federal Deposit Insurance
Corporation (FDIC) was named Receiver.
As Receiver, the FDIC is charged with winding up the business affairs
of the failed financial institution. This includes the disposition of assets
and liabilities of the failed financial institution and payment of dividends
to approved creditors in order of priority.
The FDIC, as Receiver, has taken all necessary actions to conclude the affairs
of the failed financial institution, made all dividend distributions as
required by law and the receivership estate is deemed terminated.
All accounts at Dollar Savings Bank were closed as
of February 14, 2004.
Because the FDIC was unable to arrange a
transfer of the deposits of Dollar Savings Bank to another financial
institution, checks for the insured portion of deposit accounts were
mailed to depositor addresses shown on the books and records of the